-iPad 2 now has iOS5 with its tab browsing and swiping between apps.
-The Playbook is now soooo much cheaper. If you missed the sale, head on over to your local Kijiji (I bought 5 at the sale price).
Note that video is essentially the same size on the Playbook and iPad. For web surfing, the additional real-estate is used, but the Playbook has Flash, that missing feature is a contestant annoyance when surfing on an iPad.
The iPad is not pocket size. The Playbook is jacket pocket size. The Playbook has hdmi out. You need a $50 adapter to do that on an iPad.
Conclusion: iPad is the better tablet. But if you already have a 42 inch TV, a 24 inch computer screen, a 17 inch laptop, a 10 inch tablet and a 3.5 inch smart phone, the 7 inch Playbook is a nice addition. :)